“¢ The pair has been steadily recovering along an intraday ascending trend-channel and is now holding steady above 23.6% Fibonacci retracement level of last week’s downfall.
EUR/USD 15-mins. chart
-636806301923351766.png)
“¢ However, given Friday’s bearish breakthrough a symmetrical triangular formation on the daily chart, any subsequent recovery is more likely to be seen as an opportunity to sell.
Daily chart
-636806302223205061.png)
“¢ Technical indicators on the 1-hourly chart have been gaining traction and supported the recovery move, though bearish oscillators on 4-hourly/daily charts might cap additional gains.
“¢ The set-up clearly suggests that the near-term bearish bias might still be far from over and a move towards the 1.1330 resistance is likely to get sold into amid relatively thin economic docket.
EUR/USD
Overview:
Today Last Price: 1.1318
Today Daily change: 17 pips
Today Daily change %: 0.150%
Today Daily Open: 1.1301
Trends:
Previous Daily SMA20: 1.136
Previous Daily SMA50: 1.1399
Previous Daily SMA100: 1.1498
Previous Daily SMA200: 1.1717
Levels:
Previous Daily High: 1.1374
Previous Daily Low: 1.1269
Previous Weekly High: 1.1444
Previous Weekly Low: 1.1269
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1309
Previous Daily Fibonacci 61.8%: 1.1334
Previous Daily Pivot Point S1: 1.1256
Previous Daily Pivot Point S2: 1.1211
Previous Daily Pivot Point S3: 1.1152
Previous Daily Pivot Point R1: 1.136
Previous Daily Pivot Point R2: 1.1419
Previous Daily Pivot Point R3: 1.1464
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